Shearman And Sterling

News February 01, 2022

CDP Financial Inc.’s $1.5 Billion Notes Offering under its Senior Notes Program

Shearman & Sterling represented BMO Capital Markets, BofA Securities, Deutsche Bank and J.P. Morgan, as agents, in connection with CDP Financial Inc.’s investment-grade Rule 144A/Regulation S offering of $1.5 billion aggregate principal amount of 1.750% senior notes due 2027 under its $20 billion senior notes program. Notes issued under the program are fully and unconditionally guaranteed by Caisse de dépôt et placement du Québec (Caisse), parent company of CDP Financial Inc.

Caisse is one of Canada’s leading institutional asset managers, based on assets under management, and is a mandatary (a limited, agent-like status) of the Government of Québec. As of June 30, 2021, it held C$389.7 billion in net assets. Caisse is, by law, the sole asset manager for the majority of the public-sector pension and insurance plans of the Province of Québec.

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